States have broad authority to force online retailers to collect potentially billions of dollars worth of sales taxes, the U.S. Supreme Court ruled on Thursday, siding with South Dakota in its high-profile fight with e-commerce companies. The justices, in a 5-4 ruling against Wayfair, Overstock.com and Newegg, overturned a 1992 Supreme Court precedent that had […]
Read moreJim Rogers is the latest investing guru to venture away from active management by attaching his name to an exchange-traded fund. The Rogers AI Global Macro ETF (BIKR) launches Thursday in New York. It’s based on an index that tracks a model Rogers, 75, and his team at Ocean Capital Advisors have created using machine […]
Read moreInvestors are rallying behind Darden Restaurants. Shares of the restaurant group surged more than 10 percent in early trading Thursday after the company posted better-than-expected fiscal fourth-quarter earnings, buoyed by strong sales at most of its restaurants, and raised its quarterly dividend. Darden’s stock is on pace for its best day since March 2009. “Our […]
Read moreWall Street is buzzing over Micron’s surging profit growth and its better than expected sales forecast. Micron shares rose 4 percent at one point in early trading Thursday, a day after it reported better-than-expected fiscal third-quarter earnings and gave a fourth-quarter revenue guidance above consensus expectations. The stock was up 2 percent as of 9:45 […]
Read moreThis year’s Amazon Prime Day is reportedly scheduled to start around midday July 16 and continue through the following day. The unannounced date was accidentally published on a banner of Amazon’s U.K. website this week, according to TechRadar. Amazon didn’t immediately respond to CNBC’s request for comment nor confirm the date to TechRadar. TWEET A […]
Read moreIntel‘s Brian Krzanich is out as CEO and chairman of the board following an investigation into a “consensual relationship with an Intel employee,” the company announced Thursday. Chief financial officer Robert Swan will step in as interim CEO, effective immediately. The board has already begun the search for a permanent replacement. “An ongoing investigation by […]
Read more
If can surf through content by voice, too. On each screen, each app or selection is labeled with a small number. If you’re looking through a page full of comedy movies, for example, you can select one by saying “Alexa, select number 5.” Or you can move on to a new page of movies by […]
Read moreMartin Sorrell has explained WPP’s succession plan following his resignation as chief executive of the advertising agency group in April, an abrupt departure he likened to being “hit by the bus.” Speaking at an event during the Cannes Lions International Festival of Creativity in France, he said: “Nobody believed there was a succession plan.” “For […]
Read moreMicron Technology’s third-quarter profit and current-quarter forecasts beat Street’s expectations, as the chipmaker benefited from a strong demand for its memory chips used in computers and smartphones amid tight supply. The company has been selling more memory chips at higher prices as customers look to store data and apps in smartphones and companies shift to […]
Read moreGoldman Sachs upgraded Verizon and Charter Communications to buy from neutral, believing the broadband providers have been unfairly punished as other telecommunications giants pursue costly acquisitions. “We believe that broad underperformance across the sector has been driven by a few key factors, including concerns about fundamental headwinds, M&A uncertainty and rising interest rates,” the Goldman […]
Read more